Ford Anticipates Brazilian Car BOOM and 4 Hot Auto Stocks
Ford Motor Co. (NYSE:F): According to Reuters, the company expects a surge in the Brazilian auto market in late 2012 following a slow start. Ford’s head of corporate affairs in South America says that government measures such as tax breaks and record-low interest rates cause the company to see a huge pickup in 2H12. The shares traded down $0.1 (0.96%) recently at $10.31.
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General Motors Company (NYSE:GM): the Detroit News reports that because of electrical fires sparking in drivers doors, the National Highway Traffic Safety Administration will upgrade its probe into GM vehicles. Following 28 door fires associated with the problem, federal investigators are examining over 34,000 Chevrolet Trailblazers. The shares traded down $0.22 (1.01%) recently at $21.58.
Toyota Motor Corporation (NYSE:TM): Jim Wiseman will be replaced by Julie Hamp as Toyota’s Chief Communications Officer for North America. Hamp’s previous employment includes PepsiCo (NYSE:PEP) and GM. The shares traded up $0.24 (0.32%) recently at $76.27.
Honda Motor Co., Ltd. (NYSE:HMC): Nikkei reports that the automaker has recently desisted production of the Legend sedan and plans to halt the manufacturing of the Inspire by the month’s end since it has almost output the 50 vehicles as planned. Also, Honda intends to launch an overhauled Accord in Japan next year. The shares traded up $0.28 (0.88%) recently at $32.28.
Tesla Motors, Inc. (NASDAQ:TSLA) plans to launch an exclusively electric Model S sedan on June 22. The first 1,200 Model S vehicles delivered in North America come equipped with an 85 kWh battery, which Tesla claims can reach 300 miles per charge. The shares traded up $0.08 (0.27%) recently at $29.47.
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